Hey Joshua, I own a property management company in Maine.

Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.

@Tayvion Payton  The biggest lesson I learned in my industrial property and retail property investments was to pay close attention to the tax benefits available on a property.

Its a very poor situation for the original owner to be on the mortgage for years and years without the benefits of ownership and the control.  

“Depreciation” is a wonderful tax benefit over the course of 27.5 years, but unfortunately, it isn’t a tax break per se, merely a deferment. 

I think real estate investing is absolutely the way to go thanks to the cash flow, appreciation, and tax benefits! 

Last thought (mainly for future readers), you may be talking about the 1 year FHA history if you have variable income.

Our main focus is finding properties with the highest return on investment, particularly through rental income.Additionally, we’d love to connect with local real estate agents or property management companies who can help us learn more about the area and potentially collaborate with us.Thank you so much for your time and insights!

The main condition was I had to have the downpayment (20%) first, close the deal, and then execute the owner financed 2nd mortgage. 

lima one does spec loansbuilders capital.they mainly rely on experince they want to see you have done 2 or 3 in the last few years..